Another Hot Forex System

JonnyT

Senior member
2,560 22
Hi folks,

Again trade the EUR/USD

Trade a break of the 5 minute bar at 07:00 UK time
Stop is a break in the opposite direction. Take 200 pips profit.
This is a SAR system. Take one trade in each direction if applicable.

i.e. you go long but the market reverses past the low of the 7am 5 min bar, you close the long and go short.

Has averaged 15 pips per trade 930 pips from 61 trades on current futures contract.

JonnyT
 

3rddawn

Junior member
32 0
Hi JonnyT,

How long to trades typically last?

Is this strictly just applicable to daily FX at a spreadtrading company (typically 3-4 pip spread), or would you recommend using the quarterly rates, which, although they have a 10 pip spread, at least would allow you to keep the trade going overnight?

How long do the trades typically last?

Thanks ...
 

JonnyT

Senior member
2,560 22
This is using futures. 1 pip spread.

Forgot to mention all open trades are closed at 21:00 UK time!!!

JonnyT
 

al-motor

Active member
249 0
JT- what have u found specific about the 7 am bar to trade this ? I know that often aroud 7/8 am GMT, there are nice moves starting, but what is specific about that ?

Also, u mention a 200 pip profit !?! I know lately the forex has moved some, but 200 pips sounds too high ?!?

I know the futures on EUR ususally have a 1 pip spread during official times 1.20-8.00 but doesnt it get wider outside that ?

Could one use a 10 min bar instead ??


keep up the good work...........
Al
 

options

Senior member
2,374 218
Keep 'em coming JT. You'll have a soon have a library for fx trades.
 

3rddawn

Junior member
32 0
Echo Al's question - 200 pips? To average only 15 pips, you must have a lot that start well, reverse through the 7am bar earning you nothing. Is that how it goes? If that's the case, isn't there something you could add to keep some hard earned pips?

If it keeps one side of that 7am line does it just run to end of day?

Do you have any more details for us JT?

Many thanks for your strategies and ideas. Always food for thought and encouragement ...
 

JonnyT

Senior member
2,560 22
Yep there are a few that earn 50 pips + and reverse through the 7am bar (not that many)

I put the strategy up for debate. I have found ways to increase the win/loss ratio, reduce drawdown etc but nothing that gets near the 15 pips per trade.

Maybe you lot can?

I could post the excel spreadsheet if anyone wants to try?

JonnyT
 

JonnyT

Senior member
2,560 22
Do not pass go, collect 200 pips...

JonnyT
 

options

Senior member
2,374 218
Lol, yeah it's been a good day, no matter what system you are trading. As long as no one held longs from yesterday with no stops.

God bless Alan Greenspan!
 

schoe

Well-known member
343 3
Where do you place the stop on this system Jonny. You say take one trade in each direction what happens if it reverses more than once do you put the stop at the high/low and when do you put in on as if it reverse the stop could potentially be very close or wide depending on the size of the five minute bar.
 

JonnyT

Senior member
2,560 22
The biggest stop has been 21 points.

On average it is 6 or 7 pips.

The system can be made more robust with a little work...

JonnyT
 

3rddawn

Junior member
32 0
Possible Data Discrepancy

Hi JonnyT,

Am finally getting round to looking at the Visual Basic code and have found something that puzzles me ...

Near the top you have
If Hour(Cells(x, 2)) = 2 And Minute(Cells(x, 2)) < 5
I presume this identifies the time slot for analysing the range at 7am-7:05am.

Later on, where you have the latest exit trade times, it says
If Hour(Cells(x, 2)) = 21
In your commentary, you said we take the 7am UK as start and 21:00 UK as the end.

In the text at the top of the VB it explains that hour 2 is US time but hour 16 is the close - How come you use hour=2 as the start and hour=21 as the end hours?
Shouldn't it be using hour 16 to exit the trades if done on timeout.

Many thanks
3rddawn

P.S. Have run it with hour 16 at end points and results in 13.77 pips per trade over 61 trades. Does this sound right?
 
Last edited:

JonnyT

Senior member
2,560 22
I have played about with the spreadsheet!!!

Change the hours and see what difference it makes...

JonnyT